Protecting Your Business & Its Data From Ransomware Attacks

Ransomware is a huge risk for any business, and your data is invaluable. Protecting your data should be a top priority, and it is cost-effective in comparison to the potential cost of a data breach, let’s look at some of the stats and some of the options available to prevent these types of attacks from occurring.

What is ransomware & what does it mean for my business?

The term ‘Malware’ covers an umbrella of malicious software including ransomware, spyware, adware, scareware, and more.

The definition of ransomware is “a type of malicious software designed to block access to a computer system until a sum of money is paid.”

Ransomware attacks can be extremely expensive to recover from, in 2016 alone more than £150 million was paid by victims of ransomware. 

How real is the threat?

The variety of risks of malware to SMBs includes ransomware (68%), viruses (56%), adware (53%), spyware (44%), and more.  92% of MSPs predict ransomware attacks in the next year so now is the time to invest in ransomware protection. 

Here are the main reasons people fall victim to ransomware:

  • Phishing emails (54%)
  • Poor user practices (27%)
  • Lack of cyber security training (26%)
  • Weak Passwords (21%)

The list goes on including malicious websites, lack of funding for IT security, clickbait, and more.

Let’s talk numbers… Here are some stats around the cost of ransomware attacks that may shock you!

  • MSPs are expected to pay almost 50X more in costs of downtime in comparison to the ransom asking price
  • The average ransom requested in 2020 was $5,600
  • The average cost of downtime was $274,200 in 2020

How can you protect your business and its data?

One of the ways Astaris can help is by putting mail filtering software, providing a high level of protection against a ransomware attack. Phishing emails are the most common way these attacks occur, so putting this software in place eliminates this risk almost entirely.

Astaris are also Datto partners, which means in the extremely rare case that you did experience a ransomware attack or data breach, your data would be backed up and much easier to recover. Alongside this Astaris also offer KnowBe4 training, a method of employee training to help staff of all levels recognise spam and malicious emails (including test emails that are designed to replicate spam emails to test their knowledge).

Datto’s top recommendations include employee training, antivirus/anti-malware software, and email/spam filters so Astaris is a proactive and cost-effective way to introduce cyber security into your business. 

What to take from all of this?

Spam and ransomware can be on the bottom of the list for many businesses, and it can seem like one of those things that will “never happen to me”. But unfortunately, spam and ransomware attacks are much more of a prevention rather than cure situation.

As we have seen, the financial consequences of an attack are huge and possibly detrimental for businesses, so in comparison to the cost of investing in protection is a huge return on investment for any business.

Keeping your business and its data safe should be at the forefront of every business owner’s mind, if it is something you’d like to find out more about, please visit our website.

 

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